The Biodiversity Offsets Scheme replaced the BioBanking Scheme, but some transitional arrangements remain in place for credits and credit obligations created in the BioBanking Scheme.
Existing BioBanking Agreements remain in place and are managed under the Biodiversity Conservation Act 2016 (NSW) as Biodiversity Stewardship Agreements. The NSW Biodiversity Conservation Trust is responsible for the ongoing management of BioBanking Agreements.
Unsold biodiversity credits generated through a BioBanking Agreement remain valid under the Biodiversity Conservation Act 2016. The department has developed a process to determine the equivalence of biodiversity credits created under the Threatened Species Conservation Act 1995 (NSW) with Biodiversity Conservation Act credits.
For more information, see Assessment of reasonable credit equivalence.
BioBanking public registers will continue to provide information on BioBanking credits and obligations.
To view the latest prices, sales and market trends for BioBanking credits, visit the BioBanking Credits Sales Dashboard.